In the current scenario, a major challenge for an organization is to retain its valuable and talented employees. The management can control the problem of employees quitting the organization within no time to a great extent but can’t put a complete full stop to it. There are several challenges to it.
Let us understand the challenges to employee retention:
Monetary dissatisfaction is one of the major reasons for an employee to look for a change. Every organization has a salary budget for every employee which can be raised to some extent but not beyond a certain limit. Retention becomes a problem when an employee quotes an exceptionally high figure beyond the budget of the organization and is just not willing to compromise. The organization needs to take care of the interests of the other employees as well and can’t afford to make them angry. The salaries of the individuals working at the same level should be more or less similar to avoid major disputes amongst employees. A high potential employee is always the center of attention at every workplace but one should not take any undue advantage. One should understand the limitation of the management and quote something which matches the budget of the organization. An individual should not be adamant on a particular figure, otherwise it becomes difficult for the organization to retain him. Remember there is a room for negotiation everywhere.
In the current scenario, where there is no dearth of opportunities, stopping people to look for a change is a big challenge. Every organization tries its level best to hire employees from the competitors and thus provide lucrative opportunities to attract them. Employees become greedy for money and position and thus look forward to changing the present job and join the competitors. No amount of counseling helps in such cases and retaining employees becomes a nightmare.
Individuals speak all kind of lies during interviews to get a job. They might not be proficient in branding but would simply say a yes to impress the recruiter and grab the job. It is only later do people realize that there has been a mismatch and thus look for a change. Problems arise whenever a right person is into a wrong profile. An individual loses interest in work whenever he does something out of compulsion. The human resource department should be very careful while recruiting new employees. It is really important to get the reference check done for better reliability and avoid confusions later
From India, Indore
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184Let us understand the challenges to employee retention:
Monetary dissatisfaction is one of the major reasons for an employee to look for a change. Every organization has a salary budget for every employee which can be raised to some extent but not beyond a certain limit. Retention becomes a problem when an employee quotes an exceptionally high figure beyond the budget of the organization and is just not willing to compromise. The organization needs to take care of the interests of the other employees as well and can’t afford to make them angry. The salaries of the individuals working at the same level should be more or less similar to avoid major disputes amongst employees. A high potential employee is always the center of attention at every workplace but one should not take any undue advantage. One should understand the limitation of the management and quote something which matches the budget of the organization. An individual should not be adamant on a particular figure, otherwise it becomes difficult for the organization to retain him. Remember there is a room for negotiation everywhere.
In the current scenario, where there is no dearth of opportunities, stopping people to look for a change is a big challenge. Every organization tries its level best to hire employees from the competitors and thus provide lucrative opportunities to attract them. Employees become greedy for money and position and thus look forward to changing the present job and join the competitors. No amount of counseling helps in such cases and retaining employees becomes a nightmare.
Individuals speak all kind of lies during interviews to get a job. They might not be proficient in branding but would simply say a yes to impress the recruiter and grab the job. It is only later do people realize that there has been a mismatch and thus look for a change. Problems arise whenever a right person is into a wrong profile. An individual loses interest in work whenever he does something out of compulsion. The human resource department should be very careful while recruiting new employees. It is really important to get the reference check done for better reliability and avoid confusions later
From India, Indore
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Excellent post, Akilesh!
However, I would like to mention some points:
"People leave managers, not companies."
I know the Human Resource job is very important to retain employees. However, most of the time, it's the boss who is not able to inspire them to stay.
Leadership:
In times like these, managers are afraid of losing their position and power. Often, managers are unable to direct, guide, or coach their employees effectively.
Money:
As an employee, gaining knowledge and increasing skill sets make one more valuable to the organization in terms of human capital and monetarily as well. However, our appraisal system, prevalent to appraise once or twice a year, coupled with the 80/20 rule, leads employees to seek better opportunities elsewhere.
The fault lies in the system's inability to recognize and understand the hidden talent within employees. It is essential to take steps to change policies for the benefit of employees.
HR Role:
An organization is known only because of its employees. Setting expectations about current procedures is crucial. Often, HR only conducts one or two sessions about policies (sometimes only during induction), and whatever happens, good or bad, is always buried in policies that few have access to. Therefore, transparency in communication and responsibility in making decisions at the right time are paramount.
I hope this helps!
From India, New Delhi
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However, I would like to mention some points:
"People leave managers, not companies."
I know the Human Resource job is very important to retain employees. However, most of the time, it's the boss who is not able to inspire them to stay.
Leadership:
In times like these, managers are afraid of losing their position and power. Often, managers are unable to direct, guide, or coach their employees effectively.
Money:
As an employee, gaining knowledge and increasing skill sets make one more valuable to the organization in terms of human capital and monetarily as well. However, our appraisal system, prevalent to appraise once or twice a year, coupled with the 80/20 rule, leads employees to seek better opportunities elsewhere.
The fault lies in the system's inability to recognize and understand the hidden talent within employees. It is essential to take steps to change policies for the benefit of employees.
HR Role:
An organization is known only because of its employees. Setting expectations about current procedures is crucial. Often, HR only conducts one or two sessions about policies (sometimes only during induction), and whatever happens, good or bad, is always buried in policies that few have access to. Therefore, transparency in communication and responsibility in making decisions at the right time are paramount.
I hope this helps!
From India, New Delhi
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Hi,
I agree with the point that HR has to be more involved in organizations. In most organizations, there is a lack of awareness among employees. They have very little idea about the policies and therefore decide to quit when they encounter challenges. They do not attempt to understand how the policies can benefit them. HR definitely has the potential to increase this awareness and help in retaining key talent.
Regards,
Shruti
From India, Pune
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I agree with the point that HR has to be more involved in organizations. In most organizations, there is a lack of awareness among employees. They have very little idea about the policies and therefore decide to quit when they encounter challenges. They do not attempt to understand how the policies can benefit them. HR definitely has the potential to increase this awareness and help in retaining key talent.
Regards,
Shruti
From India, Pune
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